Synopsys (SNPS) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Synopsys (NASDAQ:SNPS) from a sell rating to a hold rating in a research report report published on Friday morning.

According to Zacks, “Synopsys is a vendor of electronic design automation (EDA) software to the semiconductor and electronics industries. Estimates for the stock have remained stable, of late. The company’s sustained focus on introducing new products, acquisitions and deal wins will continue to boost results, going ahead. Moreover, unique intellectual properties and global support provided by Synopsys will likely drive its forthcoming results. Additionally, acquisitions with the likes of Phoenix Software and Kilopass will continue to help Synopsys building product portfolio and stimulate long-term growth. Notably, shares of Synopsys have outperformed the industry in a year’s time. Nonetheless, its escalating costs and expenses, which are thwarting margins, make us increasingly cautious about its near-term profitability. Furthermore, competition from peers and uncertainty surrounding the exact time of realizing acquisition synergies keep us cautious.”

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A number of other equities analysts have also recently commented on SNPS. BidaskClub raised Synopsys from a sell rating to a hold rating in a report on Tuesday, March 6th. Royal Bank of Canada reissued a buy rating on shares of Synopsys in a report on Friday, February 23rd. DA Davidson reissued a buy rating and set a $105.00 target price (up previously from $91.00) on shares of Synopsys in a report on Tuesday, November 28th. Needham & Company LLC increased their target price on Synopsys from $83.00 to $100.00 and gave the company a buy rating in a report on Thursday, November 30th. Finally, TheStreet cut Synopsys from an a rating to a c+ rating in a report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $97.33.

Synopsys (NASDAQ:SNPS) opened at $82.36 on Friday. Synopsys has a fifty-two week low of $70.37 and a fifty-two week high of $94.80. The company has a market capitalization of $12,248.99, a P/E ratio of 305.04, a price-to-earnings-growth ratio of 5.34 and a beta of 1.09. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.04.

Synopsys (NASDAQ:SNPS) last announced its earnings results on Wednesday, February 21st. The semiconductor company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Synopsys had a return on equity of 6.72% and a net margin of 1.63%. The business had revenue of $769.40 million during the quarter, compared to analysts’ expectations of $750.43 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. equities research analysts expect that Synopsys will post 1.54 EPS for the current fiscal year.

In related news, Director Chrysostomos L. Nikias sold 21,073 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $85.88, for a total value of $1,809,749.24. Following the completion of the sale, the director now owns 32,466 shares of the company’s stock, valued at $2,788,180.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven Walske sold 4,545 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $90.12, for a total value of $409,595.40. Following the completion of the sale, the director now directly owns 14,988 shares of the company’s stock, valued at approximately $1,350,718.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,318 shares of company stock valued at $4,338,754. Insiders own 1.84% of the company’s stock.

Several large investors have recently bought and sold shares of SNPS. First Trust Advisors LP increased its holdings in shares of Synopsys by 426.3% in the fourth quarter. First Trust Advisors LP now owns 1,038,634 shares of the semiconductor company’s stock valued at $88,533,000 after purchasing an additional 841,300 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Synopsys by 5.5% in the fourth quarter. BlackRock Inc. now owns 12,640,021 shares of the semiconductor company’s stock valued at $1,077,434,000 after purchasing an additional 658,966 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Synopsys by 37.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,853,499 shares of the semiconductor company’s stock valued at $157,992,000 after purchasing an additional 505,334 shares during the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $27,325,000. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of Synopsys in the fourth quarter valued at approximately $26,785,000. 90.52% of the stock is owned by hedge funds and other institutional investors.

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Synopsys Company Profile

Synopsys, Inc provides software, intellectual property (IP) and services. The Company supplies the electronic design automation (EDA) software that engineers use to design and test integrated circuits, also known as chips. It also offers IP products, which are pre-designed circuits that engineers use as components of larger chip designs rather than designing those circuits themselves.

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